Recent Posts

Many Hedge Funds Still Smarting From the Financial
Crisis (NYT)
Last year, Kenneth C. Griffin, the founder of the hedge fund
giant the Citadel Group, celebrated his second year of
double-digit gains. But despite strong performance, Mr. Griffin
has not climbed back from the losses endured during the financial
crisis. Citadel’s flagship fund is still 15 percent below its
peak, according to people with knowledge of the firm who were not
authorized to speak publicly.

Prosecution Rests Its Case in Galleon Trial
(NYT)Raj
Rajaratnam has his work cut out for him. After five weeks and
18 witnesses, the government rested its case on Wednesday against
Mr. Rajaratnam, the hedge fund billionaire, setting the stage for
the defense to begin its bid to keep their client out of prison.

Ex-Deutsche Bank Saba Prop Trader
Leads Hedge Fund to 200% Gain (Bloomberg)
Prudence Enhanced Income Fund, led by former Deutsche Bank AG
(DBK) Saba proprietary trader Chad Liu, returned 200 percent in
two years trading credit and convertible bonds sold by Chinese
companies internationally. The Hong Kong-based hedge fund, which started in January 2009,
beat the Eurekahedge Asia Fixed Income Hedge Fund Index’s 35
percent gain in the same period. Assets increased to more than
$250 million from $30 million, Liu, Prudence Investment
Management’s chief investment officer, said in an interview
yesterday.

Ucits Fund Assets Tripled to $90.5
Billion in 2010, Survey Finds (Bloomberg)
Ucits funds tripled assets to $90.5 billion last year as managers
attracted clients seeking to put money into the more regulated
and easier-to-trade alternatives to hedge funds.
Firms started 129 funds last year that comply with the European
directive known by the acronym for Undertakings for Collective
Investment in Transferable Securities, Hedge Fund Intelligence
said in a statement today. The funds raised more than $9.5
billion, according to the London-based data provider.

RAB to repay 79 pct of Special
Situations fund (Reuters)
RAB Capital (RAB.L) said the bulk of clients in its embattled
Special Situations fund have opted to pull their cash out, as one
of the most high-profile hedge fund casualties of the crisis lets
investors exit.
RAB said on Wednesday it will repay 79 percent of the fund —
which is infamous for buying into Northern Rock before the
lender’s collapse and which fell 70 percent in 2008 — when a
three-year lock-up ends in October.